Missouri SB1452 establishes provisions for construction contracts, including payment timelines and dispute resolution mechanisms.
Missouri SB1452 introduces provisions for construction contracts, focusing on payment timelines and dispute resolution. It mandates that owners must pay contractors within forty days of receiving an invoice or pay application. Contractors must notify subcontractors within seven days if the owner intends to withhold payment, and must pay subcontractors within seven days of receiving payment from the owner. The bill also voids certain agreements that require waiving rights to recover disputed amounts as a condition for receiving payment.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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